In an environment where public company directors and officers face increasing scrutiny and expanding liability exposures, the indemnification and insurance protections available to them are increasingly important. A July 15, 2013 memorandum from the Gibson Dunn law firm entitled “Director and Officer Indemnification and Insurance – Issues for Public Companies to Consider” (here)
Smaller Companies Should Consider Cyber-Liability Insurance
Smaller companies increasingly are the subject of data breaches and those smaller companies “are the number-one target of cyber-espionage attackers,” according to a recent study detailed in a April 24, 2013 CFO.com article entitled “Should You Consider Cyber Insurance?” (here). Smaller companies increasingly are the subject of cyber attacks due to “inadequate security
Towers Watson Releases 2012 D&O Insurance Survey
By now, many readers may have seen the 2012 Towers Watson D&O insurance survey, entitled “Directors and Officers Liability: 2012 Survey of Insurance Purchasing Trends,” which can be here. (I am only belatedly posting a link to the survey now owing to my travel schedule last week, when Towers Watson released the survey report).
Guest Post: Cyber Risks: New Focus for Directors
I recently had a meeting with the board of a publicly traded company. Among the topics I knew that I would be asked to address at the board meeting is the growing risk of cyber liability. In my preparation for the board meeting, I came across a recent article by D&O maven Dan Bailey, a partner in
FDIC Files First Suit Against Failed Bank’s Accountants:
On November 1, 2012, in what is the first lawsuit the FDIC has filed as part of the current bank failure wave against a failed bank’s accountants, the FDIC, as receiver for the failed Colonial Bank, has filed an action in the Middle District of Alabama against Pricewaterhouse Coopers and Crowe Horwath. PwC served as
Eleventh Circuit: Section 11 Settlement Not Covered Loss
In an unpublished August 18, 2008 per curiam opinion (here), the United States Court of Appeals for the Eleventh Circuit has affirmed the district court’s summary judgment ruling in the CNL Resorts case that a Section 11 settlement is not covered "loss" under a D&O insurance policy. The appeals court reversed and remanded